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Lucent Technologies Expects To Cut Work Force

Lucent Technologies says it expects to reduce its work force by another ten thousand employees before the end of fiscal year 2003. That would leave Lucent with 22 percent fewer employees than it expects to have at the end of this year. The Murray Hill, New Jersey-based company has about 920 employees in Colorado. The struggling telecommunications equipment maker also says it expects to report a bigger loss than previously expected for its recently ended fourth fiscal quarter. It now expects to lose as much as 65 cents per share. It had been expecting a 45 cent per share loss on a pro forma basis. The job outlook was part of Lucent's plans for a more aggressive restructuring that it said would allow it to break even at lower revenue totals. The disclosures come as Lucent and its rivals are facing anemic demand for telecommunications gear.


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